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Bullwhip Effect – Example, Causes, Analysis and Consequences
The bullwhip effect is a supply chain phenomenon in which there are inefficiencies in forecast and supply chain. The bullwhip effect refers to the fluctuating swings in response to the demands of the...
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What is Capacity Management? Role in Planning
Capacity management involves adjusting the capacity of a resource, for instance, a system, machine or equipment to meet the planned load or demand. In business, it to as the act of maximizing...
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Process Analysis – Definition, Meaning, Objectives, Advantages
Process analysis is defined as a breakdown of a process into step-by-step phases that are used to describe and convey the output, input, and operation that take place in each step. The concept is also...
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Aggregate Planning – Definition, Importance, Strategies And Advantages
Definition: Aggregate planning is a planning method in the production process which is also considered a marketing activity used to determine the required resource capacity to meet expected demand....
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10 Strategies to Minimize Waiting Time of Customer
Waiting time is defined as the time in which a person has to wait to acquire a specific service or action after placing a request for it. It is the time interval that is needed actually to make the...
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Incidence Rate – Definition, Meaning, Types, Examples
Definition of the incidence rate The incidence rate is defined as a frequency evaluator that helps to measure an incident or a disease etc. that occurs over a specific period. It is also referred to as...
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Production Capacity – Definition, Calculation And Examples
Definition Production capacity is defined as maximum production or output, which can be produced in business with the help of available resources. The capacity is calculated over days or weeks or...
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Operations Management Definition and Principles
Business operations are an integral part of every business, irrespective of the industry. It will be helpful to know all the necessary processes that are part of the business. The primary business...
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What is Kanban? Principles and Benefits
Kanban is a workflow method to manage and visualize your work progress and can be used for increasing your efficiency. Kanban is a framework that is used to develop and implement an agile software...
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Lead Time – Definition, Examples, and Importance
Lead time can be defined as the total time elapsed between the initiation of a process and the completion of the process. What is Lead time? Lead time is the latency between the initiation of a process...
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Critical To Quality (CTQ) Definition – Process and Benefits
What is Critical to Quality? Critical to Quality is the conversion of Critical to Customers factors into certain measurable and controllable manufacturing and/or delivery processes. These processes are...
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What is Operational Excellence and its 10 Core Principles
There is no business in this world that does not require improvement. There is always one or two areas in the business that could be made better. But how does an organization point out what kind of...
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Types Of Resources: Natural and Man-Made Resources
A resource is defined as something that is considered useful and valuable by human beings. It is a supply or a source that has utility and produces a benefit. A resource is also referred to as an...
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Process Documentation | Importance, Goals and Steps
Several different processes make up a business. The different processes that constitute a business need constant reviewing and improving. These processes are generally improved based on how to provide...
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Bonded Warehouse – Definition, Types and Advantages
A bonded warehouse is a secured place for imported goods (known as bonded goods) or duty payable goods for storing them closer to foreign customers before clearing the customs and process of delivery....
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